New York tech stocks take big hit as market sinks

The share values of nearly all of New York’s publicly traded tech companies took a beating Thursday amid a broader market sell-off that ranks among the worst single-day performances since the early months of the pandemic.

At one point the S&P 500 Index lost 4.2%, the most since June 2020, and the tech-heavy Nasdaq 100 dropped 5.7%, the most since March of that year.

The sell-off came a day after the Federal Reserve raised its benchmark short-term interest rates by half a percentage point.

Henry Weingarten of the Astrologers Fund says the stars show the market will fall further. Rising interest rates and stagnating corporate

→ Continue reading at Crain's New York Business

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